Coca-Cola Stock Forecast
Green day on Thursday for Coca-Cola
(Updated on May 02, 2024)
The Coca-Cola stock price gained 0.0969% on the last trading day (Thursday, 2nd May 2024), rising from $61.93 to $61.99. During the last trading day the stock fluctuated 1.10% from a day low at $61.72 to a day high of $62.40. The price has risen in 8 of the last 10 days and is up by 5.23% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 11 million shares were bought and sold for approximately $679.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $62.07 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Coca-Cola stock with a 90% probability to be traded between $58.76 and $62.69 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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KO Signals & Forecast
The Coca-Cola stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $61.82 and $60.23. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.0806%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Coca-Cola stock
Coca-Cola finds support from accumulated volume at $61.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.679 (1.10%) between high and low. For the last week, the stock has had daily average volatility of 1.47%.
The Coca-Cola stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $60.30 (-2.73%) (This stock has low daily movements and this gives low risk. The RSI14 is 90 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (KO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Coca-Cola Company (The) to open at $62.04, and during the day (based on 14 day Average True Range), to move between $61.15 and $62.83, which gives a possible trading interval of +/-$0.84 (+/-1.36%) up or down from last closing price. If Coca-Cola Company (The) takes out the full calculated possible swing range there will be an estimated 2.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.04 (0.08%) than the support at $61.74 (0.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Coca-Cola Company (The) stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Coca-Cola stock to perform well in the short-term period.
Current score: 1.455 Buy Candidate Unchanged
Predicted Opening Price for Coca-Cola Company (The) of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $62.04 ( 0.0748%) | $61.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.72 | 1.17 % | |
| R2 | 62.46 | 0.752 % | ||
| R1 | 62.30 | 0.493 % | ||
| Current price: | 61.99 | |||
| Support | S1 | 61.78 | -0.344 % | |
| S2 | 61.62 | -0.602 % | ||
| S3 | 61.36 | -1.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 62.04 | 0.0807 % | ||
| Current price | 61.99 | |||
| Support | S1 | 61.74 | -0.403% | |
| S2 | 60.50 | -2.40% | ||
| S3 | 59.83 | -3.48% |
KO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.485 | 0.799% |
| 2 | Oct 19, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.460 | 0.785% |
| 3 | Jul 19, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.460 | 0.83% |
| 4 | Apr 26, 2023 | Jun 15, 2023 | Jul 03, 2023 | $0.460 | 0.759% |
| 5 | Feb 16, 2023 | Mar 16, 2023 | Apr 03, 2023 | $0.460 | 0.737% |
FAQ
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